Difficult time for Chinese companies now over: PM Shehbaz

Prime Minister Shehbaz Sharif has assured Chinese companies and investors that the “difficult time for them is now over”.

Addressing an award ceremony in Islamabad on Monday, the premier said he was aware that the Chinese companies faced a tough time and problems in the recent past during the tenure of the previous government.

“We are going to do this under one umbrella as a one window operation and this I mean in letter and spirit… not just words but true implementation,” he said.

PM Shehbaz also assured Chinese investors to further simplify procedures for the companies working in Pakistan, especially under the umbrella of China Pakistan Economic Corridor (CPEC) and implement them in letter and spirit.

The Chinese government and companies had contributed towards Pakistan’s industrial promotion in various areas and their contribution had not only led to creating job opportunities and industrial production but also further strengthened the bilateral economic ties, he added.

Earlier, the prime minister gave awards to top-performing Chinese companies working especially on projects under CPEC in Pakistan.

He said recently the two friendly countries celebrated a decade of CPEC under Belt and Road Initiatives (BRI). The PM said China had so far invested a valuable $30 billion under CPEC which had really transformed the economic landscape in Pakistan.

“Now we are entering into the second phase of CPEC in which multiple new areas are being incorporated including the green corridor, Information Technology, and Special Economic Zones,” he added.

The premier said that the government had launched a great initiative “The Special Investment Facilitation Council (SIFC)”, which would consist of all main stakeholders including the federal government, all provincial governments and institutions particularly the Pakistan Army led by General Syed Asim Munir.

The PM said the army chief had personally contributed to this programme in a way that it had no parallel in the past as he was totally dedicated to promote the cause of Pakistan and the people who had education and talent but no jobs.

“The programme SIFC will dovetail with the entire CPEC mechanism and will be a propeller in terms of Pakistan’s industrial agri progress,” he added.